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Confused about my amount paid ahead not reducing my principal
Confused about my amount paid ahead not reducing my principal I hope this doesn’t show me as ass-ignorant but I am having trouble understanding why I don’t owe less on my auto loan. I owe 408 a month and pay 500 a month and have been doing that for about 2.5 years. Here are the stats: Amount Paid-Ahead: 2372 Amount applied to installment: 408 Remaining amount paid ahead: 1963 Total amount due: 80 Account ...
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